The pandemic has inhibited investments and impeded flows of goods and personnel, precipitating the worst recession since the Great Depression in the 1930s.
The world economy will shrink by 4.2 percent this year as the COVID-19 pandemic continues to exert a substantial toll on economies and societies, according to the OECD report.
The contribution of Europe and North America to global growth, the OECD said, will "remain smaller than their weight in the world economy." In the United States, the GDP is expected to contract by 3.7 percent this year and the eurozone will witness a 7.5-percent contraction.
Under such circumstances, China's outstanding rebound and sustained momentum for growth have offered the world a silver lining and helped brighten the bleak global economic landscape.